Global Large-scale Natural Refrigerant Heat Pump Market is valued at approximately USDXX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. The large-scale natural refrigerant heat pumps a variety of heat pumps that is highly adopted as natural and environmentally friendly refrigerants measure. These pumps help in alleviating the greenhouse gas emissions from air-conditioning, refrigeration, and heat pumping systems. The growing visibility of the contribution of heat pump technology in reducing carbon footprint, rising focus on enhancing operational efficiency in industrial sector, and increasing technological advancements in the heat pumps are the several factors soaring the market demand across the globe. For instance, in March 2021, Siemens Energy entered into a collaborative agreement with Vattenfall to demonstrate its high-temperature high-scale heat pump in Berlin. The company tested this novel technology to produce green district heating by the usage of waste electricity and heat. Likewise, in November 2019, Synchrony was acquired by Johnson Controls with the objective of using Synchrony's technology that will play a crucial role in the supply chain and manufacturing of Johnson Controls. Thereby, a rising number of strategic actions such as product launches, mergers & acquisitions, etc. by the key market players aids in augmenting the market growth worldwide. However, availability of low-cost fossil energy-based alternative technologies and lack of awareness regarding the benefits of heat pumps impede the growth of the market over the forecast period of 2022-2028. Also, execution of carbon tax in multiple countries is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Large-scale Natural Refrigerant Heat Pump Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising support of government bodies for the adoption of large-scale natural refrigerant heat pumps and growing spending on technological developments. Whereas, Asia-Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the rising focus on reducing carbon emission, as well as growth of the industrial sector, would create lucrative growth prospects for the Large-scale Natural Refrigerant Heat Pump Market across the Asia-Pacific region.
Major market players included in this report are:
Emerson Electric Co.
GEA Group Aktiengesellschaft
Mitsubishi Electric Corporation
MAN Energy Solutions SE
Guangdong PHNIX Eco-energy Solution Ltd.
Emicon AC S.p.a.
Clade Engineering Systems Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Below 500 kW
Above 500 kW
By Natural Refrigerants:
Carbon Dioxide (R-744)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Large-scale Natural Refrigerant Heat Pump Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers